KUALA LUMPUR: Stocks to watch on Monday include WMG Holdings Bhd
, Glostrext Bhd, Fajarbaru Builder Group Bhd, Gadang Holdings Bhd, Sunway Real Estate Investment Trust (Sunway REIT) and Pharmaniaga Bhd.
Exsim Borneo Sdn Bhd has agreed to acquire a 52.5% stake in WMG from Syarikat Kretam (Far East) Holdings Sdn Bhd for RM75.12mil cash or 16.5 sen per WMG share.
Glostrext is diversifying into the provision of power system products with a proposed acquisition of 70% stake in Powertecs System Sdn Bhd for RM4.2mil in a cash and share deal.
Sunway REIT has completed the acquisition of a freehold seven-storey mall known as “163 Retail Park” for RM215mil and rebranded it as “Sunway 163 Mall.”
Fajarbaru’s wholly-owned subsidiary, Fajarbaru Land (M) Sdn Bhd (FLM) has entered into a share purchase agreement (SPA) with Mayfair International Investments Pty Ltd (MII) to dispose of 44.44% stake in BFB Project Pty Ltd for A$4.2mil (RM12.1mil).
Gadang’s wholly-owned subsidiary, Gadang Construction Sdn Bhd, has entered into a sale and purchase agreement with Opulent Abode Sdn Bhd to dispose of a piece of leasehold land in Sungai Buloh, Selangor for RM65mil.
Pharmaniaga has secured funding from the government for research and development (R&D) of vaccines through the National Vaccine Production Development and Strengthening Fund (DPVN).
Last Friday, the Dow Jones Industrial Average rose 0.97% to 42,863.86, the S&P 500 gained 0.61% to 5,815.03 and the Nasdaq Composite added 0.33% to 18,342.94.
Apex Securities expects a potential recovery to take place today over at the FBM KLCI, taking a cue from the positive developments on Wall Street last Friday as we approach the tabling of Budget 2025.
It added that lower liners may stay in consolidation mode due to a lack of fresh catalysts, while investors will watch US performance closely this week, as key economic data could signal interest rate movements by the Fed.
“The Middle East tension continues to escalate, keeping traders on edge. The ongoing corporate earnings releases in the US will be in focus.
“Sector-wise, we favour the plantation sector with crude palm oil (CPO) price advanced above RM4,300 per tonne,” Apex said.
